Prossimo Advisors LLC Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Prossimo Advisors LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 8,821 shares of the financial services provider’s stock after purchasing an additional 47 shares during the quarter. JPMorgan Chase & Co. comprises about 1.6% of Prossimo Advisors LLC’s holdings, making the stock its 12th biggest position. Prossimo Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Hurlow Wealth Management Group Inc. lifted its holdings in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock valued at $1,328,000 after acquiring an additional 40 shares during the last quarter. Wimmer Associates 1 LLC lifted its holdings in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock valued at $986,000 after acquiring an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider’s stock valued at $3,340,000 after acquiring an additional 40 shares during the last quarter. First Command Advisory Services Inc. lifted its holdings in JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock valued at $2,283,000 after acquiring an additional 40 shares during the last quarter. Finally, Black Swift Group LLC raised its position in JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider’s stock valued at $1,413,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday, June 30th. TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. UBS Group boosted their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $288.68.

JPMorgan Chase & Co. Stock Down 1.1%

JPM stock opened at $296.39 on Friday. The company’s 50 day moving average price is $280.47 and its 200 day moving average price is $261.28. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $301.29. The firm has a market capitalization of $823.69 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.02 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.12 earnings per share. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is 28.73%.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares of the company’s stock, valued at $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.